Bitcoin ETFs Draw $853M as BTC Stays Range Bound
Spot Bitcoin ETFs pulled in $853.5 million over five straight sessions from August 3 to August 7, reversing the prior week's $61.5 million in outflows. Bitcoin barely moved. The token has held a $62,000 to $66,000 range for roughly five weeks, with BTC trading at $63,733 on Wednesday morning, up 0.29% over 24 hours.
Key Takeaways Spot Bitcoin ETFs took in $853.5 million from August 3 to 7, already about five times July's full month total of $172.4 million, per SoSoValue data. BlackRock's IBIT drove roughly 81% of that inflow, or $693 million, concentrating the institutional bid in a single product. BTC has traded between $62,000 and $66,000 for five weeks as ETF buying offsets OTC selling fro…
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